DEDICATED TO EMBEDDED SOLUTIONS Q DATA RESPONS ASA

Transcription

1 DEDICATED TO EMBEDDED SOLUTIONS Q DATA RESPONS ASA

2 AGENDA 1. MAIN FIGURES 2. SEGMENT INFORMATION 3. BUSINESS CONCEPT 4. OUTLOOK 2

3 MAIN FIGURES

4 SUMMARY OF Q OPERATING REVENUE: NOK MILLION EBITDA: NOK 5.2 MILLION EBIT: NOK -83,2 MILLION (after impairment of goodwill NOK 87 million) ORDER INTAKE: NOK 224 MILLION ORDER BACKLOG: NOK 639 MILLION OPERATING CASH FLOW: NOK 8.7 MILLION 4

5 PROFIT AND LOSS STATEMENT NOK MILLION Q Q CHANGE Operating revenues % EBITDA EBITA Profit before taxes NOK MILLION YTD 2011 YTD 2010 CHANGE Operating revenues % EBITDA EBITA Profit before taxes

6 BALANCE SHEET ASSETS (NOK MILLION) Intangible assets Deferred tax assets Machinery & equipment Total non-current assets Inventories Receivables Cash and cash equivalents Total current assets Total assets EQUITY AND LIABILITIES (NOK MILLION) Total equity Non-current liabilities Current interest-bearing loans Accounts payables Other current liabilities Current liabilities Total equity and liabilities

7 CASH FLOW NOK MILLION Q Q Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities Net cash flow from the period Cash at beginning of the period Exchange gain/losses on cash Cash at end of the period NOK MILLION YTD 2011 YTD 2010 Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities Net cash flow from the period Cash at beginning of the period Exchange gain/losses on cash Cash at end of the period

8 OPERATING REVENUES PER QUARTER ,8 172,2 176,3 204,4 218,3 216,9 189,1 225, , Q Q Q Q Q Q Q Q Q

9 OPERATING REVENUES YTD ,0 818,5 726,1 706,8 849, ,

10 EBITA PER QUARTER ,1 2,1 2,0 1,7 1,1 1,0 0,1 0,3 Q Q Q Q Q Q Q Q Q ,7-8 10

11 EBITA YTD 60 54, , , ,6 8, ,8 11

12 SEGMENT INFORMATION

13 REVENUE PER BUSINESS AREA, YTD Solutions 49 % Products 7 % Services Solutions Products Services 44 % 13

14 REVENUE PER INDUSTRY SECTOR, YTD Offshore 10 % Medical 5 % Energy 4 % Automation 7 % Maritime 9 % Defence 13 % Other 12 % Telecom 24 % Transportation 16 % Defence Energy Medical Offshore Maritime Automation Telecom Transportation Other 14

15 REVENUE PER COUNTRY, YTD Sweden 39 % Germany 6 % Denmark 13 % Denmark Norway Germany Sweden Norway 42 % 15

16 EMPLOYEES PER DIVISION, YTD Development 64 % Administration 12 % Administration Operations Sales Development Sales 10 % Operations 14 % 16

17 EMPLOYEES PER COUNTRY, YTD 600 Germany Sweden Denmark Norway

18 GROSS MARGIN 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q

19 OPERATING EXPENSES (NOK MILLION) Payroll Other expenses Payroll % of revenue Other expenses % of revenue % % 80 40% 60 30% 40 20% 20 10% 0 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 0% 19

20 DATA RESPONS DENMARK DATA RESPONS A/S Established: 1999 Employees: 43 Offices: 2 NOK MILLION Q4-11 Q4-10 % Revenues % EBITA Order intake NOK MILLION YTD-11 YTD-10 % Revenues % Operating revenue was impacted by lower project deliveries and effects of the planned downsizing of the Danish operations. EBITA Order backlog The company implemented several efficiency initiatives during 2011 to reduce the overall cost level and to adjust to the current market conditions. The main focus in Denmark is core business, customer relations, risk reduction and profitability improvements The Danish operation has a more cost effective structure going into REVENUE PER BUSINESS AREA Services Solutions Products 55 % 41 % 4 % 20

21 DATA RESPONS GERMANY DATA RESPONS GMBH Established: 2005 Employees: 37 Offices: 2 NOK MILLION Q4-11 Q4-10 % Revenues % EBITA Order intake NOK MILLION YTD-11 YTD-10 % Revenues % Germany has showed improving order intake and backlog during 2011 EBITA Order backlog Continue the strategy of building the most complete supplier of services, products and solutions in the German market REVENUE PER BUSINESS AREA The company has a good foothold in our regions and is well positioned for future growth and improved profitability. Services Solutions Products 66 % 22 % 12 % 21

22 DATA RESPONS SWEDEN DATA RESPONS AB Established: 2000 Employees: 202 Offices: 6 NOK MILLION Q4-11 Q4-10 % Revenues % EBITA Order intake NOK MILLION YTD-11 YTD-10 % Revenues % Strong growth in revenue order intake during and order backlog during EBITA Order backlog During the year the company has increased its geographical deployment in important regions and strengthened the total competency platform Profitability have been impacted by investments and costs related to the completion and introduction of several new solutions contracts. Initiatives taken to give a more efficient and cost effective organization going into REVENUE PER BUSINESS AREA Services Solutions Products 66 % 28 % 6 % 22

23 DATA RESPONS NORWAY DATA RESPONS NORGE AS Established: 1986 Employees: 164 Offices: 8 NOK MILLION Q4-11 Q4-10 % Revenues % EBITA Order intake NOK MILLION YTD-11 YTD-10 % 2011 is the best performance in the Norwegian company s history in all aspects. Increasing levels of solutions deliveries, positive order intake, record high order backlog, a strong services market and general high activity in the organization. Leading market position, a well-balanced business mix, and a record high order backlog. High degree of recurring Solutions customers with long lifecycle. Revenues % EBITA Order backlog REVENUE PER BUSINESS AREA Services Solutions Products 63 % 8 % 29 % 23

24 ORDER INTAKE PER QUARTER Q Q Q Q Q Q Q Q Q

25 ORDER INTAKE YTD

26 ORDER BACKLOG Q Q Q Q Q Q Q Q Q

27 LARGEST SHAREHOLDERS DECEMBER 31, 2011 SHAREHOLDERS SHARES % CUSTOM HOLDING AS ,10 % MP PENSJON PK ,98 % DYVI CAPITAL AS ,56 % BRAGANZA AS ,21 % FOUGNER INVEST AS ,69 % VARNER INVEST AS ,11 % HAAKON MORTEN SÆTER ,62 % DNB NOR SMB VPF ,09 % SILVERCOIN INDUSTRIES AS ,04 % STOREBRAND VEKST ,89 % BERNT AS ,71 % STOREBRAND NORGE I ,69 % LOLIGO AS ,66 % VERDIPAPIRF.STOREB.NORGE INSTITUS ,64 % P-INVEST AS ,44 % STOREBRAND LIVSFORSIKRING AS ,29 % SKAGEN VEKST ,24 % RO INVEST AS ,16 % BIRK INVESTMENT AS ,09 % SHAREHOLDERS: 872 LEIF HÜBERT ,04 % TOTAL 20 LARGEST ,24 % OTHERS ,76 % TOTAL NUMBER OF SHARES ,00 % 27

28 BUSINESS CONCEPT

29 THIS IS DATA RESPONS FAST FACTS ESTABLISHED: 1986 Listed on the Oslo Stock Exchange (Ticker: DAT) CERTIFICATIONS: ISO 9001:2008 ISO 14001:2004 OHSAS 18001:2007 EMPLOYEES: 446 OFFICES: Denmark (2) Germany (2) Norway (8) Sweden (6) China (1) Taiwan (1)

30 VISION

31 WE KNOW EMBEDDED SOLUTIONS MEASURING SYSTEMS FOR OIL AND GAS NAVIGATION SYSTEMS FOR VESSELS RADAR SYSTEMS FOR FIGHTER JETS 31

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33 33 Leading edge knowledge through 450 ACTIVE ENGINEERING EXPERTS, covering all vital parts of the development cycle.

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37 COMPLETE VALUE CHAIN

38 COVERING IMPORTANT INDUSTRIAL CLUSTERS LOCAL CLOSE TO THE CUSTOMER SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION 38

39 ACCESS TO LEADING EDGE COMPETENCE 450 EMBEDDED SW/HW EXPERTS SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION 39

40 ACCESS TO ASIA AND WORLD LEADING PARTNERS LOW-COST AND HIGH QUALITY ASIA SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION 40

41 LONG TERM INNOVATION NEW TECHNOLOGY & REDUCED COSTS PARTNER SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION 41

42 MARKET TRENDS

43 IMPACT FROM CONSUMER ELECTRONICS

44 MEDICAL INCREASING CUSTOMER BASE

45 OIL SERVICE STRONG POSITION AND GROWING MARKET

46 SUCCESS STORY: IN-HOUSE VS. OUTSOURCED CUSTOMER: Oil & offshore FIRST CONTRACT SIGNED: 2007 ACCUMULATED VALUE: NOK 75 million

47 SUCCESS STORY: IN-HOUSE = COMPLEX BILL OF MATERIAL R&D PERSONS INVOLVED NUMBER OF SUPPLIERS THE CUSTOMER HANDLES: Development Assembling and test RMA Logistics, shipment, stock End of life issues Next generations

48 SUCCESS STORY: OUTSOURCED = SIMPLE BILL OF MATERIAL R&D PERSONS INVOLVED NUMBER OF SUPPLIERS DATA RESPONS HANDLES: Development Assembling and test RMA Logistics, shipment, stock End of life issues Next generations

49 ACCESS TO ASIA

50 ASIA LARGE-SCALE, LOW-COST PRODUCTION COMBINED WITH LOCAL INNOVATION INNOVATION PRODUCTION

51 DATA RESPONS IN TAIPEI 10 YEARS EXPERIENCE 51

52 DATA RESPONS IN SHANGHAI LOCATED IN SHANGHAI S MOST SUCCESSFUL INDUSTRIAL PARK: ZHANG JIANG HI-TECH PARK 52

53 OUTLOOK

54 STOCK EXCHANGE NOTICES [1] MNOK 15 SOLUTION CONTRACT WORTH NOK 15 MILLION [ ] Data Respons has signed a solution contract with a global industrial player. The contract is worth NOK 15 million and has considerable future potential. 54

55 STOCK EXCHANGE NOTICES [2] MNOK 25 CONTRACT WORTH NOK 25 MILLION [ ] Data Respons has extended a contract with an existing international customer in the oil service industry. The new contract is valued at NOK 25 million and the order volume will be delivered over the next two years. 55

56 STOCK EXCHANGE NOTICES [3] MNOK 9 SOLUTION CONTRACT WORTH NOK 9 MILLION [ ] Data Respons has been awarded a contract worth NOK 9 million from a world-leading company within the oil service industry. The agreement covers the delivery of advanced computer solutions for use in rough environmental conditions. Deliveries will be carried out during

57 STOCK EXCHANGE NOTICES [4] MNOK 10 SOLUTION CONTRACT WORTH NOK 10 MILLION [ ] Data Respons has received a contract from a customer worth NOK 10 million. The contract covers development and delivery of a new solution platform as well as continued delivery of existing solutions. Delivery will take place within the next few months. 57

58 639 MNOK SOLID order backlog Good momentum in SERVICES Large SOLUTION deliveries in the pipeline 58

59 GROWTH DRIVERS #1 COMPUTER INTELLIGENCE Continuous demand for new functionality Increasing complexity and technology content Impact from consumer technology #2 SOLUTIONS Increased complexity and shorter time to market Very specialized expertise needed Companies want to focus on their own core business

60 GROWTH DRIVERS #3 NEW REGIONS Expanding our customer base Closer contact with existing customers Unique business model contributes to rapid establishment in new regions #4 ACQUISTIONS Constant focus on acquisition opportunities Strengthen our expertise and market access Improve customer structure

61 FOCUS Profitability Improvement Program (PIP) Yearly cost reduction of 20 million Coordination of Nordic operations center Transfer tasks to Asia organization and partners Strong customer focus Geographic distribution / local touch Attractive customer base (long term/recurring) High customer satisfaction Discipline in operations Speed Quality Cost improvement 61

62 OUTLOOK MARKET CONDITIONS Long-term growth drivers intact. Financial uncertainty has not affected the positive market conditions in our major markets. Monitoring market conditions carefully ahead. STRONG BUSINESS CONCEPT Complete Solutions provider Customer-driven organization Well-diversified in terms of industries, regions and with a balanced customer portfolio Global partner network and Asia setup LONG-TERM GROWTH AND PROFITABILITY 20 MNOK yearly cost reduction from the Profitability Improvement Program effective from 2012 Current demand from our customers, solid order intake and order backlog indicates further growth. Expect improved profitability and cash flow 62

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